California Surf Clothing Company issues 1,000 shares of $1 par value common stock at $35 per share. Later in the year, the company decides to purchase 100 shares at a cost of $38 per share. Record the purchase of treasury stock.

Dr Treasury Stock 3,800

Cr Cash 3,800

Explanation:

Preparation of the journal entry to Record the purchase of treasury stock.

Based on the information given we were told that the Clothing Company issues 1,000 shares which means that if the company made decision to purchase 100 shares at the amount of $38 per share later in the year the journal entry to Record the purchase of treasury stock will be :

Dr Treasury Stock 3,800

Cr Cash 3,800

(100 Shares x $38.00 per share)

(Being to record the purchase of treasury stock)

x=3

step-by-step explanation:

this is really simple i saw that there was only one term (5x) and thought if that was 15 what would i have to multiply everything else to get it there? well if 5x became 15 then x would have to be 3 so plug the 3 in the x for the other equations and you get 15 for the other ones. so there you go. : )

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